Equity Bancshares (NASDAQ:EQBK) PT Set at $33.00 by DA Davidson

Equity Bancshares (NASDAQ:EQBKGet Rating) has been assigned a $33.00 price target by DA Davidson in a report released on Monday, Stock Target Advisor reports. DA Davidson’s price target would indicate a potential upside of 6.97% from the company’s previous close.

EQBK has been the subject of a number of other research reports. StockNews.com lowered shares of Equity Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Piper Sandler cut their price objective on shares of Equity Bancshares from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday.

EQBK traded up $0.56 during midday trading on Monday, reaching $30.85. 5,128 shares of the company’s stock were exchanged, compared to its average volume of 46,370. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $502.11 million, a PE ratio of 9.15 and a beta of 0.70. The business’s 50-day moving average price is $31.53 and its 200 day moving average price is $32.18. Equity Bancshares has a 1-year low of $28.01 and a 1-year high of $36.00.

Equity Bancshares (NASDAQ:EQBKGet Rating) last announced its earnings results on Tuesday, April 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.30. Equity Bancshares had a net margin of 26.61% and a return on equity of 14.14%. During the same quarter in the previous year, the company earned $0.65 earnings per share. As a group, analysts expect that Equity Bancshares will post 3.23 EPS for the current fiscal year.

In related news, insider Tina Marie Call sold 2,903 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $31.96, for a total transaction of $92,779.88. Following the completion of the transaction, the insider now owns 7,220 shares of the company’s stock, valued at $230,751.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. EJF Capital LLC grew its stake in Equity Bancshares by 18.5% during the first quarter. EJF Capital LLC now owns 270,955 shares of the bank’s stock worth $8,755,000 after buying an additional 42,234 shares during the period. Commerce Bank purchased a new stake in Equity Bancshares during the first quarter worth approximately $1,351,000. Wells Fargo & Company MN grew its stake in Equity Bancshares by 29,288.1% during the fourth quarter. Wells Fargo & Company MN now owns 32,033 shares of the bank’s stock worth $1,087,000 after buying an additional 31,924 shares during the period. TD Asset Management Inc. grew its stake in Equity Bancshares by 100.0% during the fourth quarter. TD Asset Management Inc. now owns 63,074 shares of the bank’s stock worth $2,140,000 after buying an additional 31,537 shares during the period. Finally, Strs Ohio purchased a new position in shares of Equity Bancshares in the fourth quarter valued at $814,000. 59.08% of the stock is owned by hedge funds and other institutional investors.

About Equity Bancshares (Get Rating)

Equity Bancshares, Inc operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers. The company accepts various demand, savings, money market, and time deposits. Its loan products include commercial and industrial, commercial real estate-backed, commercial lines of credit, working capital, term, equipment financing, acquisition, expansion and development, borrowing base, real estate construction, homebuilder, agricultural, government guaranteed, and other loan products to national and regional companies, restaurant franchisees, hoteliers, real estate developers, manufacturing and industrial companies, agribusiness companies, and other businesses.

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